The Akwa Ibom State Government has dismissed reports suggesting plans to sell the Ibom Power Company, describing the claims as inaccurate.
In a statement issued in Uyo, Commissioner for Information Aniekan Umanah said the publication by a local newspaper alleging the sale of the state-owned power plant does not reflect the government’s position. He urged the public to disregard the report, stating that no approval has been given for any form of sale.
According to the government, current efforts are directed at strengthening the company’s financial position. Umanah noted that the administration of Governor Umo Eno is working to repay a $9 million loan obtained from Afreximbank. A structured quarterly repayment plan was approved in March 2025 to reduce the debt gradually.
The government stated that these actions are part of broader plans to stabilise and improve the company’s operations rather than divest ownership.
Addressing concerns about electricity supply, officials acknowledged outages in parts of the state but explained that transmission and distribution fall outside the state government’s direct control. Engagements with relevant authorities are ongoing to improve service delivery.
The statement also highlighted ongoing reforms in the electricity sector, including a private sector participation programme aimed at attracting investment and technical expertise. Authorities said the initiative would involve concessions across generation and distribution assets while maintaining government ownership.
Additional measures cited include the establishment of a state electricity regulatory body and the creation of a holding company to oversee electricity assets, as part of efforts to improve efficiency and long-term sustainability in the sector.
